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Jeju Mulls Increasing Minimum Resident Visa Investment to 1.5 bln Won

Jeju Mulls Increasing Minimum Resident Visa Investment to 1.5 bln Won

JEJU, Jan. 21 (Korea Bizwire) — The provincial government of Jeju said Friday it will push to raise the minimum investment required of foreigners under its real-estate investment immigration policy to 1.5 billion won. Under the current property investment immigration system, foreigners who invest 500 million won (about US$419,000) or more in condominiums or other [...]

Military to Ship COVID-19 Treatment Pills to Overseas Units

Military to Ship COVID-19 Treatment Pills to Overseas Units

SEOUL, Jan. 21 (Korea Bizwire) — South Korea’s military is set to ship COVID-19 treatment pills to three overseas units Friday following virus outbreaks there, officials here said. Pfizer’s Paxlovid antiviral pills will be sent by air to the contingents in the United Arab Emirates (UAE), South Sudan and Lebanon under Thursday’s distribution approval by [...]

Justice Ministry to Grant Stay Visas to More Foreign Children Studying in S. Korea

Justice Ministry to Grant Stay Visas to More Foreign Children Studying in S. Korea

SEOUL, Jan. 20 (Korea Bizwire) — South Korea will temporarily expand visa issuance for foreign children staying illegally in the country to better guarantee their right to education, the justice ministry said Thursday. Until now, undocumented foreign children eligible for visas have been middle and high school students, as well as high school graduates, who [...]

Seoul City to Increase Low-carbon Buildings and Electric Cars to Achieve Carbon Neutrality

Seoul City to Increase Low-carbon Buildings and Electric Cars to Achieve Carbon Neutrality

SEOUL, Jan. 20 (Korea Bizwire) — The Seoul city government will renovate worn-out buildings into low-carbon ones and increase the proportion of electric cars in the city by 2026 as part of efforts to respond to climate change, officials said Thursday. The measures were announced as part of a five-year project from 2022 to 2026 [...]

Gov’t to Give Customers Right to Request Interest Rate Cut from Lenders

Gov’t to Give Customers Right to Request Interest Rate Cut from Lenders

SEOUL, Jan. 19 (Korea Bizwire) — The government plans to activate the customer’s right to request an interest rate cut from credit card and credit finance firms. The right to request an interest rate cut represents the borrower’s right to demand that financial companies lower interest rates when their wealth or credit conditions improve. The Financial [...]

Gov’t to Offer Up to 5 mln Won in Medical Fee Assistance to Students with Post-vaccine Symptoms

Gov’t to Offer Up to 5 mln Won in Medical Fee Assistance to Students with Post-vaccine Symptoms

SEOUL, Jan. 18 (Korea Bizwire) — The government plans to offer up to 5 million won (US$4,200) in medical fee assistance for treatment of post-vaccination side effects among students, officials said Tuesday, as the country plans to expand the vaccine pass system to include 12- to 18-year-olds in March. According to the education ministry, students [...]